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  1. AU Tax - Rental Schedule Apportionment

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    19 comments  ·  Practice tools  ·  Admin →
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    Accepted  ·  AdminKelly Munro (Community Manager, Xero) responded

    Hi community, we hear you on the challenges presented by the current process, and having to manually calculate this outside Xero.

    Though we don't have immediate plans in the roadmap, this is a feature we'll take into future planning, and we'll be sure to update you all here of any progress.

    For now, the best way to handle this is to continue to calculate the apportionment outside of Xero and then manually enter the figures. Thanks

    CRAIG LIGERTWOOD supported this idea  · 
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    CRAIG LIGERTWOOD commented  · 

    There are currently no rental worksheets for companies (as the ATO do not accept rentals on a CTR in PLS) in Xero Tax. These schedules are available in other software providers ie MYOB.

    As clients have rentals in company format, it would be useful to at least have worksheets for each property to keep income and expenditure (and depreciation).

    This would assist clients as they would have more detailed information for each property as well as a better audit trail. Also a time saving in data entry for the tax return.

    The worksheet could simply then update the relevant income field 6G, expense field 6H and depreciation 6X in the Company tax return. The worksheet would not need to be included in lodgement.